Board of Management of Forth Valley College of Further and Higher Education
Latest income
£39.8m
Latest spending
£44.7m
Accounts read
FY2025
Form
Statutory corporation (Royal Charter etc)
Financial health, per FY2025 accounts
The accounts state that the College reported an adjusted operating deficit of £317k for the year ended 31 July 2025, which has been agreed with the Scottish Funding Council. The College holds a cash balance of £2.6 million and has adequate resources to continue operations for the foreseeable future, with no material uncertainties identified regarding going concern.
What the accounts disclose
Highest-paid employee band: £130,001 - £140,000
“The annualised remuneration of the highest paid member in the financial year 2024-25 was £140,465” — page 31
Per FY2025 accounts as filed with OSCR.
Reserves position: below the charity's own stated policy
“The College has no restricted reserves as at 31 July 2025 (2024: nil).” — page 60
Per FY2025 accounts as filed with OSCR.
Related-party transaction: Transactions with bodies in which Board members hold official positions, including Scottish Government, NHS Forth Valley, and local authorities.
“The College had transactions during the year, or worked in partnership with, the following bodies in which members of the Board of Management hold, or held, official positions.” — page 59
Per FY2025 accounts as filed with OSCR.
Largest income source: Public funding (85% of income)
“Approximately 85% of the College’s income is from publicly funded sources which the College does not control” — page 5
Per FY2025 accounts as filed with OSCR.
Governance note: The Board of Management does not comply with the Code of Good Governance regarding the role of Secretary to the Board, as the Vice Principal Finance & Corporate Affairs holds a dual role within the Senior Management Team.
“The College complies with all the principles of the 2022 Code of Good Governance for Scottish Colleges, with the exception of the role of Secretary to the Board.” — page 26
Per FY2025 accounts as filed with OSCR.
Independent examiner: Forvis Mazars LLP
Per FY2025 accounts as filed with OSCR.